WEEKLY COMMODITY REPORT BY EPIC RESEARCH-22 OCTOBER 2012
WEEKLY COMMODITY REPORT 22TH OCTOBER 2012WWW.EPICRESEARCH.CO 9752199966
HEADLINES Copper concentrate demand from China reportedly strong. LME week in London has framed the backdrop for the base metals complex. While prices across the complex generally softened ahead the annual jamboree last TRADING TIP: week, trading in and around the meetings has been generally range-bound. This reflects to some extent the Sell Silver Oct sentiment we have noted at the majority of meetings; namely, a lack of conviction based on uncertainty about Below 59600 the economic outlook and, in particular about how growth conditions in China, as well as domestic metal TGTS-59300/59000 markets, are set to evolve. However, it would be wrong, in our view, to characterize the feedback from market SL-59892 participants as bearish. US Gold, Silver production falls, rising demand pushes up industry revenues.Sell Aluminium Oct US gold and silver production is declining having reached the lowest point in almost 20 years in 2011. ButBelow 105.50 the industry is happy having achieved high revenues in the past five years to 2012 as rising global demand andTGTS-104/102 higher prices make mining more attractive, according to a report by IBIS +World titled Gold and Silver OreSL- 106.40 Mining in the US industry release of the weekly storage report. The storage injection for the week in reference narrowed the storage overhang over last year’s level to 228 Bcf,WWW.EPICRESEARCH.CO 9752199966
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